Is Coinbase (COIN) Quietly Recasting Itself as an “Everything Exchange” Beyond Crypto Trading?
- In recent days, Bank of America upgraded Coinbase Global to Buy and reiterated a positive view on its expansion into stocks, ETFs, and prediction markets as the company pushes beyond core crypto trading to become an “everything exchange.”
- The bank’s commentary also drew attention to Coinbase’s growing subscription and services revenue mix and its Ethereum-based layer 2 plans, which together point to a business model less tied to pure trading volumes and more to platform infrastructure and recurring income streams.
- Next, we’ll consider how Bank of America’s support for Coinbase’s push to become an “everything exchange” shapes its investment narrative.
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